Quick Consols - Q1 2025 Newsletter

Dear Quick Consols Account Admin

We can’t believe how fast Q1 seems to have flown past and its already time for our first update newsletter of the year. 2025 is going to be jam packed with new features so keep your eyes peeled as we roll them out.

Every year we focus on a development theme, and this year’s energy will be primarily poured into making the app easier to use and more auditable.

If you’re short on time, here’s a quick glance at the latest updates. If you’d like the detail, keep scrolling.

Core consolidation module

• Bulk updating of GL account names.
• Operational Metrics can now be uploaded via an Excel file.
• Using Operational Metrics to create cashflow journals.
• A powerful new segmental reporting feature. A new report option which displays only those proforma journals that occur between business units in the proforma column. Proforma consolidation journals that remain within the business unit will remain in their respective columns.
• Journals update
  • New journals are now sequentially numbered regardless of the journal type or how it was processed. Existing journals will retain their numbers.
  • Deleted journals are now permanently retained for viewing and audit purposes.
  • Journal numbers will no longer be updated when you rerun your repeating journals (ERJs & RJs).
  • Journal data extract includes an option to include deleted journals.
  • Journal capture screen has been revamped for a better user experience and includes the ability to view deleted journals.
    

Annual Financial Statements module

• Text in cells now wrap when completing tables in the Questionnaire.
• Text cells no longer show zero values.
• Landscaped pages are now clearly visible in the preview.
• All table headings can now be underlined with a global default setting. This was previously done on a table by table basis.
• Table headings are now frozen in the Questionnaire for improved user experience on large tables.

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Core consolidation module updates

1. Updating of GL account names
   
   • Quick Consols never used to automatically update general ledger account names
   • By using this function, the system will update the GL account names to the one uploaded in the very latest Actual trial balance uploaded
   • You can choose the companies you want to update
   • The function is available under “Group->Additional Functions->Account Functions->Sync Chart of accounts with latest trial balance
2. Operational metrics upload
   
   • Operational metrics can now be uploaded from a Microsoft Excel workbook.
   • Please log a support ticket if you wish this to be enabled for your group.
3. Using operational metrics to create cashflow journals
   
   • This is helpful for larger groups that want to capture their cashflow adjustments in functional currencies and then have all cashflow journals automatically created.
   • Each operational metrics can be assigned a “credit adjustment” and a “debit adjustment” account.
   • All that is required is to select the affected accounts and create the journals.
   • Journals are created via the “Group->Additional Functions->Account Functions->Create Cashflow Journals From Operational Metrics” function
4. Display inter business unit proformas as business unit
   
   • This is for those of you who have business units made up of multiple companies and you need to stack these business units (segments) up AND display inter-segment proforma journals in a separate column.
   • This now avoids a situation where one leg of a proforma journal is displayed in one business unit and the other leg in another business unit.
   • Where all the legs of a journal exist within a business unit, the proforma will be displayed within that business unit.
   • Proforma journals that affect two different business units (inter-segment) are displayed in their own column.
5. Journals updates
   
   • New journals are now sequentially numbered regardless of the journal type or how it was processed.
   • Existing journals will retain their numbers.
   • Deleted journals are now permanently retained for viewing and audit purposes.
   • Journal numbers will no longer be updated when you rerun your repeating journals (ERJs & RJs).
     • Journal extract includes an option to extract deleted journals.
     • Journal capture screen has been revamped for a better user experience and includes the ability to view deleted journals.

Annual Financial Statements

1. Landscape items now visible on the preview
   
   • You can now easily see which items are set to landscape in the preview page
   • Remember your set will continue to be landscaped until the next page break
   • To go back to portrait make sure you insert a page break where you want the landscape to end or remove the landscape item
2. Underlining of table headings can be set as default across all tables as a global setting
   
   • You can access this setting under “Modify->Settings”

Feel free to reach out to us for all your consolidation needs.